The Oslo-based outfit logged a pre-tax profit of $2.7m for last year compared to a $5.8m surplus 12 months earlier.
Stove has for many years acted as a modest cash cow with a fleet of four semi-open-hatch handymax bulkers out on long-term charters.
Last year, two 28,000-dwt log carriers, the Super Adventure and Super Challenge (both built 1996), also controlled by Tidemand, were added to Stove’s expanding fleet.
The
